The stakes are often high when a high-asset marriage ends. Dividing assets, property and wealth can be a complex and contentious process. Knowing when to take a stand and fight for what’s rightfully yours is essential.
Litigation becomes necessary when couples cannot agree
Litigation becomes necessary in certain situations:
- Disputed asset valuation: You and your spouse disagree on the value of significant assets. This often includes businesses or real estate.
- Hidden assets: You suspect your spouse is hiding assets or underreporting income.
- Disagreements on asset division: There is a conflict over how to divide assets, such as retirement accounts or investment portfolios.
- Spousal support disputes: You cannot agree on spousal support terms. Virginia courts consider the length of the marriage and each spouse’s financial condition.
- Child custody conflicts: Litigation might be necessary if you cannot agree on a custody arrangement. The court will prioritize the child’s best interests.
The discovery process during litigation can uncover hidden assets through subpoenas, depositions and forensic accounting. This process is vital in ensuring a fair distribution of marital property.
Going to court takes time and money. It is important to consider if the possible benefits outweigh the costs. Sometimes, options such as mediation or collaborative divorce are better choices.
If you have prenuptial and postnuptial agreements, they can significantly impact your divorce proceedings. A court will generally uphold these agreements unless they are unconscionable or were signed under duress.
Seeking legal guidance can be beneficial when navigating a divorce
While amicable settlements are ideal, litigation is sometimes the only way to protect your interests in a high-asset divorce. Every decision can impact your future, so having a skilled attorney in your corner is essential. An attorney can help you decide if litigation is the right path for you and represent you in court if it is.